Under the movement of “Veterans helping each other rise up out of poverty and get rich”, Phu Giao district’s Veterans Association last year mobilized and disbursed more than VND10bln in loans for 518 officials and members to develop homebased business.

The association also teamed up with the district’s branch of the Bank for Social Policies effectively maintained, controlled and used preferential loans of VND7.3bln for 306 households. The figure has brought the total amount of loans managed by the association so far to more than VND29bln with 1,642 borrowing households; disbursed more than VND3bln from the association’s fund for 224 households and more than VND730mln from the association’s saving fund for 88 households. The association also mobilized well-off households to offer support in terms of loans, materials for production, cash… to needy ones with a total value of VND257mln.

Members of the association effectively used the above loans and many of them rose out of poverty and stablized their lives. As of late 2013, the whole district had 1,433 well-off members or 79.68% of total, up 5.66% compared to 2012. The number of poor members reduced to 14 or 0.77% of total

Reported by H.Phuong-Translated by K.T